Interior designer Bar Studio has paid $6.85 million for alternative radio station PBS’ Collingwood warehouse-converted-office – with plans to occupy.
The red brick structure at 47 Easey Street was purchased at a well attended auction in June.
On 1045 square metres, the Commercial 2 zoned parcel was marketed to developers.
The double storey warehouse contains 1800 sqm of area.
PBS is the major occupier; its lease expires in 2021.
Bar Studio rents in the city at 75-77 Flinders Lane.
The practice specialises in hotel and resorts .
Some of its projects include The Legacy House in Hong Kong, Park Hyatt in Sydney and Grand Hyatt in Melbourne.
Last month another owner-occupier – a Sydney-based finance company – spent $5.75m on a three-level terrace at 42 Cambridge St, Collingwood which has been converted into a 593 sqm workspace.
Elsewhere in the suburb recently:
- Houston-based Hines spent $28.5 million on 36-52 Wellington St with plans for a timber office;
- Impact Investment Group’s 13-floor commercial building at 54 Wellington Street, is nearing completion;
- Pace Development Group is constructing a workplace at 51 Langridge St; and
- The former Glo-Weave factory (128-144 Wellington St) traded for c$40m to Chinese-Australian investor Zhang Weian. This site is earmarked for an office and hotel.
Madman Entertainment is based in Collingwood.
Skin, body and hair care producer and supplier AESOP will soon set up at 54 Wellington St, relocating from 25 Smith St, at the Fitzroy border.
Jetstar and McDonalds are amongst the biggest companies headquartered there.
In recent years the suburb, like Cremorne, South Melbourne, South Yarra and Fishermans Bend, has attracted creative industries.